Hong Kong's first Solana exchange-traded fund, the "Huaxia Solana ETF," has been approved.

According to the latest news from Hong Kong's Economic Daily, the Hong Kong Securities and Futures Commission (SFC) has officially approved Asia's first Solana (SOL) spot ETF, issued by China Asset Management (Hong Kong).

This marks the third regulatory-approved cryptocurrency spot ETF in Hong Kong and Asia, following Bitcoin and Ethereum, marking another significant step forward for Hong Kong in the field of digital asset financial innovation.

The Solana spot ETF is expected to officially list on the Hong Kong Stock Exchange on October 27th. It will feature dual-currency trading counters: a RMB counter (stock code: 83460) and a USD counter (stock code: 9460), catering to investors with varying currency preferences.

Each trading unit is 100 SOLs. Based on current market prices, the minimum investment threshold is approximately US$100, further lowering the barrier to entry for average investors to participate in crypto asset allocation.

The ETF's virtual asset custody and trading services will reportedly be supported by OSL Exchange, a licensed digital asset platform. The fund's fee structure is 0.99%, and the annual recurring expense ratio is expected to be approximately 1.99%, which is reasonable for similar crypto ETFs.

The approval of the Solana spot ETF not only enriches the diversity of crypto financial products in the Hong Kong market but also further consolidates Hong Kong's leading position in the digital asset sector as an international financial center.

As more mainstream cryptocurrencies are gradually incorporated into the regulated financial system, Asian investors will have the opportunity to participate in this rapidly developing asset class in a more secure and transparent manner.